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China accounts for 90 pct of Oman’s crude exports in Sept.: ministry

China, the leading market for Oman’s crude oil exports, accounted for 90.74 percent of the country’s crude exports in September, the Ministry of Oil and Gas said.

China’s imports of Omani crude increased by 10.08 percent in September, while imports of crude by Japan and India declined by 4.19 percent and 2.12 percent respectively.

The total exports reached 27.078 million barrels in September, representing a daily average of 902,611 barrels.

Oman’s production of crude oil and condensate throughout September totaled 29.706 million barrels, a daily average of 990,200 barrels.

Crude prices jumped in futures trading market in September compared with August on all major global crude oil indexes.

“The uptrend in crude oil prices in September futures trading has been attributed to several factors, such as the shift-down in U.S. oil inventories and the increase in global demand,” said the ministry in its report.

“The extra demand came especially from the Asian buyers as a result of the market anticipation of a new round of U.S. sanctions against Iran, resulting in traders’ concerns about the lack of global supplies,” it added.
Source: Xinhua

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